The Nigerian downstream petroleum market recorded mixed pricing movements across major depots between Monday, 11th May and Friday, 15th May 2026, as Premium Motor Spirit (PMS) remained relatively stable while Automotive Gas Oil (AGO) witnessed sharp downward corrections across several supply hubs.
Market analysis showed that diesel prices declined significantly in Lagos, Warri and Port Harcourt depots during the week amid improved product availability and softer buying momentum. PMS prices, however, traded within a tighter band across most depots despite persistent supply pressure in some inland locations.
LAGOS DEPOTS
PMS (Monday – Friday Movement)
Lagos PMS prices remained largely stable throughout the week, with most depots maintaining prices within the ₦1278–₦1280/litre range.
Integrated: ₦1280 → ₦1278 (−₦2)
Ascon: ₦1280 → ₦1278 (−₦2)
Bono: ₦1280 → ₦1278 (−₦2)
A.A Rano: ₦1285 → ₦1280 (−₦5)
Aiteo: ₦1280 → ₦1280 (unchanged)
The Lagos PMS market reflected relative stability despite gradual price moderation across selected depots towards the end of the week.
AGO (Monday – Friday Movement)
Lagos AGO prices recorded notable downward adjustments across several depots as diesel demand softened.
Rain Oil: ₦1890 → ₦1815 (−₦75)
Menj: ₦1900 → ₦1815 (−₦85)
Aipec: ₦1890 → ₦1815 (−₦75)
Integrated: ₦1890 → ₦1815 (−₦75)
Duport: ₦1890 → ₦1820 (−₦70)
The diesel market in Lagos showed sustained bearish momentum, with prices retreating sharply from Monday levels amid increased supply competition.
WARRI DEPOTS
PMS (Monday – Friday Movement)
Warri PMS prices moved upward during the week, reflecting renewed inland distribution pressure.
Matrix: ₦1285 → ₦1293 (+₦8)
Nepal: ₦1280 → ₦1295 (+₦15)
Parker: ₦1280 → ₦1292 (+₦12)
Warri remained one of the strongest PMS markets during the week as prices trended moderately higher across key depots.
AGO (Monday – Friday Movement)
Warri AGO prices recorded major downward corrections across most depots.
Matrix: ₦1900 → ₦1855 (−₦45)
Rain Oil: ₦1950 → ₦1815 (−₦135)
First Fortune: ₦1888 → ₦1814 (−₦74)
Danmarna: ₦1890 → ₦1815 (−₦75)
Nipco: ₦1890 → ₦1850 (−₦40)
Prudent: ₦1890 → ₦1816 (−₦74)
A.Y.M Shafa: ₦1852 → ₦1852 (unchanged)
The Warri diesel market experienced the steepest decline nationally, driven by weakening demand and aggressive repricing among depot operators.
PORT HARCOURT DEPOTS
PMS (Monday – Friday Movement)
Port Harcourt PMS prices showed mild downward movement during the review period.
Masters: ₦1305 → ₦1300 (−₦5)
TSL: ₦1300 → ₦1300 (unchanged)
Liquid Bulk: ₦1300 → ₦1300 (unchanged)
The region maintained relatively firm PMS pricing despite slight corrections from early-week highs.
AGO (Monday – Friday Movement)
Port Harcourt AGO prices trended lower across major depots.
Matrix: ₦1910 → ₦1865 (−₦45)
Sigmund: ₦1910 → ₦1865 (−₦45)
The decline reflected easing diesel replacement costs and softer industrial demand within the region.
CALABAR DEPOTS
PMS (Monday – Friday Movement)
Calabar PMS prices recorded moderate upward adjustments during the week.
Sobaz: ₦1287 → ₦1295 (+₦8)
Fynefield: ₦1290 → ₦1294 (+₦4)
Calabar maintained one of the highest PMS price bands nationally as supply costs in the eastern corridor remained elevated.
MARKET OUTLOOK
PMS prices remained largely stable nationwide, with only mild adjustments across Lagos and Port Harcourt depots.
Warri recorded the strongest PMS increase during the week.
AGO prices declined sharply across Lagos, Warri and Port Harcourt amid easing market pressure.
Warri diesel prices experienced the deepest correction, particularly at Rain Oil and First Fortune depots.
Calabar PMS prices remained comparatively elevated due to regional supply and logistics costs.
Going forward, depot pricing trends are expected to remain sensitive to crude oil volatility, vessel discharge activity, inland haulage costs, foreign exchange pressure and refined product availability across the downstream supply chain.